tv The Hunt With John Walsh CNN June 24, 2016 9:00pm-10:01pm PDT
that does it for this edition of "360" and thank you for watching. cnn newsroom is next. -- captions by vitac -- www.vitac.com as we continue the groundbreaking decision to the leave the eu. >> and i'm becky anderson, and we will break it down what this means for this hour, and the immediate fallout for the world markets. >> investors around the globe are in a frenzy, but the european council insists that there is no need to panic. >> it is
lawrence johnson, the favorite at the moment. he was one of the leading architects, university friend of david cameron. been friends, now, that relationship seems to be stressed. angling for a job. and the security, remain eded i the european union, could unite this party, looking to pull the party back to center.
we have certainly heard words from the first minister in scotland, whatever the outcome, as far as england is concerned, they want -- she suggests wants scotland to stay in the european union. what is the fall-out from this decision? previous to this as well, if there was the will to break off from great britain, they would do that she indicated, if that is the will of the people that is it the direction she will g and to hear from the republicans
and northern ireland voted to remain part of the european union, now face tough border controls, where the republic of ireland. if you look at northern ireland, it it wasble fa blellfast, all border districts voted to remain part of the union the implication is that new border security would have to be developed, europe through ireland, into great brittin inb. echoes of the civil war in northern ireland out to the early 1990s. there is a lot afoot. these are problem that is
britain has seen before. scotland, potentially preparing for an in/out referendum. it is not clear if they can make a good economic argument. oil had fallen, with fiscal stability, they will be strong. >> number 10 for you this morning. >> for global, it is not coming cheap. stocks tumbled world wide, a new eraf market uncertainty. on wall street s a tumble of more than three and a quarter
percent. the woofrt day on wall street in 10 months. the s and p and dow. >> german and french stocks, and plunging to levels not seen since the mid 1980s. gold, rallying. mining stocks, doing well. and investors, flocking to the safe haven of u.s. treasuries. two trillion dollars worth of stock market value world wide. >> asian markets, the first to see wild swings. in hong kong, the asian markets, the first to reflect this news.
>> yes, it was. on the hong kong stock exchange. extreme volatilitvolatility, th reacted violently. it was hard to keep track offule of the fluctuations. the sense is very much the volatility, whether it is the stock market, will be limited. this is the stock market immediate reaction. it is the new jerk reaction to what has happened, we are likely to see volatility in the days ahead. the view is to take a step back, and look and access the medium to long-term impact, brexit will have on asian. it will have some impact, it will be moderate. if you look at trade between asia and the u.k., it isn't that
much. overall exports from asia to the u.k. account for less than 1% of regional gdp. less than one percent when it comes to asia and the u.k. some have higher trade, vietnam nam being one. what is interesting here, look at the corporate world. look at companies, asian companies that have a lot of business in the u.k. we are talking about japan and indyampt? japan, toyota, nissan, factories in the u.k. as well. t.c.s., exposure in the u.k., and these companies have used the u.k. has an gate way to the
rest of europe. these companies are saying they will have to reaccess what they do with their operations. keeping an eye on the business world will be interesting going ahead. >> a lot to access. warning of a black friday to leave the um -- eu. forcing banks into emergency plans. >> the federal reserve, all sflol provide luquiddity. the bank is quote well-prepared as britain builds new
relationships with the rest of the world. ben steen, a former economist with the u.s. department of commerce. how do you access the impact of what was a momentum decision by the u.k. to leave the eu, on friday morning? >> the impact on the u.s. is nill. we sft united kingdom is not going to disappear. if the exports drop 10%, that is inconsequential to the u.s. i have not seen an amount of shouting and screams, what seems to be a small event of the traders make money when markets
move. there hasn't been a gigantic move. the tariffs may not change at all. where is the news story? except for the political story, the stock market is about discounting future profits, i don't see any effect in terms of u.s. profits at all. >> it is not just a u.k. problem, it is a european project. they are now calls within france. another major economy. >> sir, the u.s. relationship is france is trivial. germany. >> sir, those countries are not going to disappear. they will need to import what we export, and we still want to
buy, the people today were betting, that europe would be taken off to mars. there will be changes around the margins, it is not a giant economic event. >> you are suggesting that thp is neither here northere, when it comes to britain's position, as far as going forward? >> britain is a gigantic world power, economically and financially. it will continue. it will not have influence on the united states one way or the other. i don't see what in leaving the european union, there is no sign they will raise tariffs, there is no sign that europe will raise tariffs, what will happen to affect corporate profits?
i don't see anything? the traders are running wild and scaring everybody. >> a lot of people in this country, finance, by far the biggest stray, if we lost the financial center, do tulike it is likely? >> that would be -- >> european headquarters? >> why would they? why can't they stay as they stay. kong kong is not part of the european union. it is a huge financial center. why wouldn't britain continue to be a huge financial player? >> fascinating sir. i am sure those who decided to leave the eu, given the $2 trillion financial assets, i am
delighted to here you think nothing has changed. >> we are talking about billions, at the most, on the u.s. yet, $1.5 trillion was taken off valves, it is ridiculous. by the way, i see it all the time. i have been following this since i was 12 years old. traders like to move markets. they like to moch markets. >> stay calm and carry on, then. is what our guest today out of los angeles is telling us, thank you, sir. >> get ready for the bounce back. what is next down here, events to watch out for in the days ahead. in a few hours, six founding countries, they are expected to meet in berlin to discuss the fall-out from the vote. on monday. parliament planning the exit
from the eu. and planchs for a leadership election to choose the next prime minister. >> is the leaders of france and italy, and european counsel president to berlin. and tuesday, a eu summit, all 28 leaders, including david cameron, to discuss the u.k. divorce. >> the world is adjusting to a new reality. you will hear from leaders around the globe on the u.k.'s decision to leave the eu, next. , but i'd really like to go home now. my arms are very tired.
world leaders, the president of the european commission says that it people's decision must be respected. >> personally, the decision, but, of course, we have to respect it. >> well, u.s. president barack obama is similarly unhappy. he said allying with britain will remain strong. >> while the u.k. relation with the eu will change, the one thing that won't change is the special relationship between our two nations, that will endure. the eu will remain indispensable partners. >> the vote is causing problems close to home, and for the world at large. >> the oil price already fell. the value of the pound, the
euro, coming under pressure. there is volatility in financial markets, it does not make us happy. there is additional risk, in the world economy and our economy, which is part of the world economy. >> gemanny, the largest country in the eu, trying to hold everything together after sft u.k. exit. >> surprise and confusion on the streets of berlin, germans come to grips with the fact that u.k. has voted to leave the eu. the chancellor abruptly changed her plans today to address the nation. >> today represents a water shed moment for europe, and the process of european unity. over the coming weeks, months, and years, exactly what the water shed means, depends on
what the other 27 union members are willing to act. >> so confident that the berlin insider prints it up before it was announced. great britain stays, of course, that was changed. >> they are a bit stupid. this kind of world, you cannot stay by yourself. tihad the impression, the discussions were very much emotional. >> maybe in a positive way. in the last few years, we have only seldomly travelled to great britain, the pound was so expensive. now, hopefully, the pound is low, we can get as soon as possible to great britain.
>> reporter: the crisis here, is how do they hold it together after a devastating blow like this. it is up to germany, france and other eu countries to show there is no benefit from exiting from it eu. otherwise, what is to stop other far right movements, france, netherlands and germany, from spearheading their own exit from the eu. this is why germany's chancellor, and eu counterparts for an emergency meeting on monday. >> updated an international maco economics, joining us more with the financial fall-out of the brexit vote. we had earlier on said, keep calm and carry o he doesn't get all of this market turmoil, and
suggests that this is a short term impact, that things will be fine going forward. $2 trillion knocked off the financi financial -- ru calm? >> one has to appreciate that we are entering into a period of protracted uncertainty. the global economy already had so many uncertainties to deal with. the upcoming u.s. election, now, this is a spatter in the worgs for quite a number of countries. $2 trillion wiped off markets, half in europe, is serious. as the dust settles, it will be important to see stability not just in europe, but for emerging markets as well. they are struggling.
>> almost as if the eu financial ministers are more important rather than what is happening in london, the u.k. needs the eu as a force, so does the rest of the world. the emergency meeting between the leaders of france and germany are more important right now? >> given the drop in global trade that we have seen over the past two years, trade is well below gdp growth. everyone needs each other, it is all about coordination and dialogue. the south african rand, and the swiss frank. we need to find the market to be more orderly. >> hating uncertainty, traders
thrive off of it short-term buying and selling yesterday. we will see that dust settle. you mention emerging markets, when you see the markets in france and germany, particularly, looking damaged by this idea of conitageon. just explain to us what the economy like south africa, even china at this point? >> the two key linkages are what are going on in trade. any sign that we are seeing a slowing domestic economy, uncertainty, and investment decisions roll being postponed. that nch, india, for example,
was struggling off the back of that south africa again. trade is one linkage. any sustained rebound in the oil price, commodity price, as the gold price rebounds. we will see commodity exporters struggle as they were gaining hope from the stabilizationn oil prices. i would say that trade and commodity prices are the two barometers for the emerging markets. >> thank you very much, indeed. >> our first guest, dismissing it in a way. we will examine, and speaking with nigel farage, there he is. >> taking a short break.
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of the u.k.'s decision to leave the european union. >> here in london, the people have spoken. the world doesn't seem to like what it is hearing. >> the markets have taken a tumble in the wake of this decision. it is not clear when or how things will settle down. >> he has nigel farage. spoke with him earlier. >> i have been doing this for 25 years. i mean, i was in danger in the 1990s of becoming the patron saint of lost causes. written off for being a lunatic. and support was this was tiny. when we got to 10:00, and the poles closing, i almost dared not to hope that what i worked
for over 25 years for happened. >> could you believe it? >> i am not sure i can now, to be honest with you. i say it not just because of my journey, it is a political event. it did not just effect the u.k., the world, too. >> there have been times, when phrases like, indigenous workers. >> i never used that fras. >> the u.k. has been a broad tent. >> nonracist, nonsecitarian party. all we argued for is an australian style point system. normality. >> you have seen the market respond drastically. concerns from around the world, what it means for all the ways britain is, not least the war on
terror. he doesn't want to overexaggerate. they believe that britain is less safe. >> came from berlin, through the netherlands, through belgium, into france, without any stops of any kind at all. of the eight people that commit thad atrocity in paris, back into europe, through the greek island posing as refugees. >> they wouldn't have had that freedom of movement. >> actually, we do. >> i have to show my pass. >> we have to show a passport, it is free movement. i think national borders are going to start going up. i think the pop ulgds across the rest of europe is beginning to demand it i make this point, the way we deal with things like
this information sharing and things like that we act as friends. weiss have the closest in addition sharing with theus a we don't need to be the 51st state. it is it a big nafta, it is not. we are the closest allies in the world. >> the u.k. independence party. you have independence, what happens now? >> the first thing that happens, i lead the biggest delegation, we will watch like a hawk to make sure things are happeningly and make sure the government carries out the wishes of the people. >> two meetings will take place. one with david cameron, one will not. that meeting, the smaller eu,
discussing the terms of britain's divorce. david cameron is sitting down, wants a new leader in place by october. what lead up to the prime minister's resignation. >> this is bigger than any other politician or government. >> so, it turned out to be. david cameron's promise of a referendum. the death nail of his leadership, bringing his time to a dramatic end. when he took office in 2010, again a coalition government for the first time in generations. >> we are announcing a new politics. >> in this new ira, cameron
overall the gradual deficit, the process was paraphernaliaful for some. cameron, joined the coalition against isis, and welcomed the world for a london 2012 olympics, when it came to re-elegislation, cameron was surprised. that win came ataise cost. pressure from an within cameron's own party, fo, forced him to make a pledge. >> yes, we will deliver thaech referendum on the future. nay divided the party for decades. >> i am not a british isolationist. i want a better deal. >> he went to of brussels, he
declared it a success. the said litsds has changed. >> explain how this deal returns sovereignty -- >> having failed to convince some of his closest political allies, his position going into the referendum, he said he would step down before the next election. >> i am not standing for re-election. i have no other agenda than what is best for our country. the race to fill his shoes will quickly heat up. >> there is renewed talk of a
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continue to be so. >> his city, overwhelming backed him. that was the one story of the u.k., the one part of england, at least, that voted against the rest of it the other story, the other place, of course, is scotland. a scottish referendum is highly likely on leaving. >> leading a cabinet meeting, the latest for you. that is how the first minister of scotland, that scotland could be pulled out of the european union, after the people voted in favor of staying with the european union. 52% voted in favor of that the
first minister said it was the democratically aspiration to stay. part of the european union, part of the common market. she was prepared to do everything possible to make sure that happened. including calling another independence referendum. it was back in december, 2014, that scottish people, voted on the issue of independence, that vote, decided that scotland should stay with the united kingdom. now, there has been material and significant change in scotland's circumstances, tlur her parties manifesto, she said, under those circumstances, a second referendum would be reasonable. more than that, she said her government is almost preparing legislation, been within the two-year time skate scale that u.k. has to disengage from the european union. >> in order to protect that
position, we will begin too prepare the legislation that would be required to enable a new independence referendum too take place, if parliament so decides. to conclude, this isn't a situation they wanted scotland or the u.k. to be in today. my responsibility, in a climate of uncertainty, is to seek to lead our forward with purpose. >> nicholas sturgeon said, they voted for their count reese to the modern, and inclussive. it was inconceivable of the british government to stand in the way of the referendum, if they decided to proceed. >> northern ireland voted to stay in the european union. britain voted to leave. >> britain can no longer claim
to represent those in northern ireland. jerry adams spoke to cnn. >> my we had a referendum here, the people here voted to stay. then, the european union, and the british prime minister, mr. cameron, has no mandate whatsoever, to be voting the people on this part of ireland. >> calling for the republic of ireland and northern ireland to hold a unification vote. >> the break up of the u.k., extraordinary. the fall out from the referendum. other news stories for you after other news stories for you after this break. you know we said we'd take a look
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first, other stories that we are following. brazil's only accredited lab to test for doping hopes to get the license back in time for the summer olympics in six weeks, the brazilian doping control lab was suspended on friday. payton walsh is in rio. >> reporter: we don't know the precise reason why they suspended this key laboratory in brazil. 6,000 samples or should have been processed during the games, but they are clear. this isn't a serious of misdemeanors, when they are inspected, they can for small issuings, incur points, that result in a suspension. that was not the situation here. this is one issue serious enough that merritted the suspension. whether or not this could be clarified before the games, said it is possible it won't be. that this facility will not be
used and go to the facilities in europe, or maybe in north america. that will call into question, the speed of functionality. can they process fast enough for the games, what was the issue? spent millions of state of the article equipment in that facility we saw. a matter of days ago. now, there is another issue there. we don't know what it is. we may never know, before the games start. we do know, the laboratory issued a clear statement saying they believe their work is in the pursuit of excellence, they think the next inspection will enable them to have a clean slate and carry out the tests for it games. they told the laboratory two days ago, they heard about it on a statement released on friday. a lot of questions to be answered here. still, the laboratory convinced they have a clean slate.
one serious issue, so serious, that they can't fill this vital role at the games, this adds another problem, that athletes are facing, and straight to the heart of the sensitive part of the games, russia, many of the athletes will have to go through increased testing to be able to make it to the field games here. now, the one facility that was supposed to sweep through all of that t being a shiny. rio, brazil. >> in the 23 people are dead after massive flooding. houses are cars, swept away, some rivers over flowed their
banks, hundreds of rescuers are trying to save people trapped. 44 counties declared a state of emergency. national weather service said there is a one in one thousand chance of that much rainfall in one area in any given year. >> many have lost everything. we are today, we need to begin to pivot to what we call health and welfare, getting equipment, cleaning supplies, we will announce that later. at this time, our thoughts, and prayers are with the victims of this tragedy. >> on the other side of the country, southern california is dealing with this it a fast-moving wild fire, killed at least two people, and burned nearly 100 houses. the area is also under a state of emergency. 800 firefighters are fighting
this fire, in bakers field. this fire is only 5% contained. pope frances on a visit to armenia. genocide memorial. he used the term genocide. he was referring to world war one. the wording is controversy, and calling the event genocide, will anger turkey. they maintain there were loss says on both sides. some countries reck nisz it as a genocide. canada, russia and italy. the u.s. does not. in the event, armenia said 1.5 million were killed. turkey puts the number at
300,000. the word genocide for turkey, it recalled the ambassador. the german parliament recognized the mass killings as a genocide. you are watching back live to london for more on the historic british vote to leave the european union. [ male announcer ] love drama? don't be a yes man. [ boss ] it is a very smart plan. so we're all on board? [ paul ] no. this is a stupid plan. hate drama? go to cars.com. research. price. find. only cars.com helps you get the right car without all the drama.
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